Mill Capital Management LLC Grows Stake in Apple Inc. (NASDAQ:AAPL)

Mill Capital Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 656,438 shares of the iPhone maker’s stock after buying an additional 1,615 shares during the quarter. Apple accounts for about 9.9% of Mill Capital Management LLC’s investment portfolio, making the stock its biggest position. Mill Capital Management LLC’s holdings in Apple were worth $89,748,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Elk River Wealth Management LLC grew its stake in Apple by 49.0% in the first quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after purchasing an additional 54,989 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Apple by 8.3% in the first quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock worth $13,029,000 after purchasing an additional 5,703 shares in the last quarter. Piscataqua Savings Bank grew its stake in Apple by 1.5% in the first quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after purchasing an additional 684 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Apple in the first quarter worth approximately $171,000. Finally, Chico Wealth RIA bought a new position in Apple in the first quarter worth approximately $7,794,000. Institutional investors own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. Barclays set a $169.00 price objective on Apple in a research note on Wednesday, September 14th. Itaú Unibanco started coverage on Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. KeyCorp upped their target price on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 19th. Wells Fargo & Company lowered their target price on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Finally, set a $175.00 target price on Apple in a report on Friday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $181.68.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL traded down $2.31 during midday trading on Friday, hitting $150.43. 95,682,813 shares of the company were exchanged, compared to its average volume of 88,646,039. The company’s 50 day simple moving average is $160.31 and its 200 day simple moving average is $155.83. The firm has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. As a group, sell-side analysts predict that Apple Inc. will post 6.1 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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